Dear Members,
I required small clarification from you, Regarding TDS on AMC(Sub-Contracters) U/s194C for Exp.
Rs.69,000=00 is AMC , Add Rs.7,107=00 Service Tax @ 10.3% , Total Bill/Invoice Amount is Rs.76,107=00
I have to deduct TDS @ 2% on Invoice Amount(Inclu.Ser.Tax) of Rs.76,107=00 of AMC amount of Rs.69,000/- -Pl. clarify.
Thaking you,
Yours G. Ravi Kumar.
tds is not related to invoice but on payment, you have to deduct on whole payment.
Dear Mr.Ravikumar
You need to deduct tax (TDS) for the full value of the bill (including service tax).
TDS has to be deducted on the date of accounting the bill or on the date of payment of the bill whichever is earlier. Even if you create a provision in the books TDS has to be deducted.
with regards
Muralidharan
O P Bagla & Co LLP
New Delhi
CA Inter
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